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LAHORE: The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has demanded the government to abolish customs and regulatory duties on import of cotton yarn, as the apparel and home textile sectors in country's local market is facing shortage of basic raw material, which may lead to a drastic decline in overall textile exports.

PHMA zonal chairman Faisal Mehboob Sheikh and chief coordinator Adil Butt, in a joint statement issued here on Friday, observed that a huge export orders are available with the value-added knitwear industry but the exporters are unable to take orders due to unavailability of cotton yarn in the country on competitive prices.

Faisal Mehboob Sheikh asked the government to remove restriction from duty-free import of cotton yarn from all neighbouring countries to enable the exporters to compete the international market. He said that our value-added knitwear sector is reeling under immense pressure of high costs of doing business, rising utility rates and several other problems.

Faisal Mehboob Sheikh said that huge number of weaving industries has already closed down and this spiralling prices and unavailability of cotton yarn will crucify exports of value-added textile, which will lead to further closures of large number of export-oriented units. He called for implementing the vision of PM Imran Khan to simplify the export schemes, providing new incentives for the business community to help export industry keep abreast of latest developments and trends in the technology.

PHMA chief coordinator Adil Butt pointed out the severe cash flow crunch that has squeezed productivity resulting in reduced exports as billions of rupees are blocked and demanded of the government to release all stuck-up claims of exporters immediately.

Copyright Business Recorder, 2020